VivaGym, based in Malaga, Spain, and owned by U.S.-based private equity firm Providence Equity Partners, has agreed to acquire Synergym International in a deal that will give it more than 450 fitness clubs in Spain and Portugal.
Terms were not disclosed. The deal remains subject to regulatory approval.
Synergym International, the Luxembourg-based parent company of Synergym Holding, has 166 locations.
“This is a pivotal moment for VivaGym,” said Cristina Burzako, CEO, VivaGym. “This move builds on the robust growth we are already experiencing and allows us to accelerate our expansion strategy. We are merging two complementary companies to significantly broaden our reach and better serve our partners across the Iberian Peninsula.”
He added: “Our goal is to offer an accessible, high-quality fitness experience, and this step allows us to further this ambition. With a broader network and expanded capabilities, we believe we are ideally positioned to continue improving our offering and drive the next phase of our growth,” he concludes.
Robert Sudo, managing director in the London investment team, stated: “This transaction aligns with our strategy of building large-scale platforms in attractive, high-growth sectors. VivaGym has demonstrated its ability to expand, and we believe this acquisition further strengthens its position in the Iberian market. The business benefits from the growing social predisposition to invest in health and wellness and the increasing demand for accessible and flexible options. All of this is in a market experiencing continuous user growth and significant room for expansion. We see great potential to further expand the platform both organically and through targeted opportunities, and we look forward to continuing to work with Cristina and her team.”
Jordi Bella, CEO, Synergym, commented: “This operation is the culmination of a successful and expanding period for Synergym. Joining VivaGym is the natural next step after this journey that began in 2013. The goal is to continue improving the lives of thousands of people, thanks to high-quality clubs with specialized fitness areas, state-of-the-art equipment, and highly qualified staff.”
VivaGym has received advice from Boston Consulting Group, Deloitte, Uria Menendez, and A&O Shearman. Synergym has been backed by Growth Partner since 2019, Oxy Capital since 2021, All Seas Capital since 2024, and Houlihan Lokey and Garrigues.
Image courtesy VivaGym
